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Y. Steinberg & Co. Law office

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Y. Steinberg & Co. Law office

Your trusted partners in Israeli real estate. Y. Steinberg & Co. The firm is located in Jerusalem and caters to international clients living abroad. Mr.

Law, established in 2008, is a boutique firm specializing in real estate, housing, commercial and investments transactions. The firm effectively delivers a full range of legal and professional service including real estate transactions, dealing, planning and zoning issues. is renowned for dealing with complex projects from either a financing, planning or legal perspective. The firm guides its cli

ents through the legal requirements of the project often resulting in saved time, money and even frustration. Law was established in 2008 by attorney Yitzhak Steinberg a practicing lawyer since 2003. Steinberg is fluent in both English and Hebrew and walks his clients through the intricacies of Israeli law, bureaucracy and culture.

19/03/2025

Learning from Experience - Key Tips for Foreign Buyers

After years of helping international clients navigate the Israeli property market, I've collected some invaluable lessons that could save you time, money, and stress. Here's what experience has taught us! 📚

1. Timing is Everything 🕒

- Start your banking arrangements 2-3 months before you plan to purchase
- Begin corporate structuring early
- Don't wait until you've found a property to start preparations

2. Documentation Matters 📄 The biggest delays often come from missing or incorrect documents. Here's your essential checklist:

- Corporate documents with apostille
- Proof of funds ready for review
- Tax registrations from your home country
- Clear ownership structure documentation

3. Local Support Team 🤝 You'll need:

- A real estate lawyer familiar with international transactions
- An accountant who understands cross-border taxation
- A reliable local banker
- Sometimes, a corporate lawyer in your home country

And in the picture:
Unrelated to the post, a picture of the Manhattan skyline at sunrise this morning, I'm always amazed anew to see this view that combines divine beauty together with human achievement.

18/03/2025

Creative Solutions for International Property Investment in Israel

After sharing all those challenges in my previous posts, it's time for some good news! Let me share some innovative solutions we've developed for our international clients investing in Israeli real estate. 🏢✨

Here's a success story that might interest you: We recently helped a US family trust invest in Tel Aviv property through a structure that satisfied both Israeli regulatory requirements AND US tax efficiency goals. How? By creating what I like to call a "legal bridge."

The Structure:

1 An Israeli company (let's call it IsraCo)
2 Owned by a US LLC
3 Which is held by the family trust

Why did this work so beautifully? 🎯

- Israeli authorities dealt with a familiar local entity
- The US tax benefits remained intact
- Banking became significantly easier
- Future property transactions simplified
- The trust's objectives were fully met

In the picture: Not related to the post, gift packages (mishloach manot) that have begun to pile up here in the office ahead of one of my especially favorite holidays - Purim

hashtag hashtag hashtag hashtag

06/03/2025

The Banking Marathon - Opening Corporate Accounts in Israel

Ever tried opening a bank account for a foreign LLC in Israel? If you have, you're probably nodding (or shaking your head) right now. If you haven't... well, let me tell you about this "adventure"! 🏦

In my practice, I've helped companies from the US, UK, Netherlands, Mexico, and more open Israeli bank accounts. Each case is unique, but they all share one thing: it's never as simple as you'd expect.

Here's what you're up against:

- Enhanced due diligence processes that can take months
- Requirements that seem to multiply like rabbits
- Different standards at different banks
- Sometimes conflicting demands from various departments

Pro tip: Want to save time? Start gathering these documents NOW:

- Corporate formation documents
- Tax registrations
- Proof of business activity
- Ultimate beneficial owner documentation
- Source of funds verification

27/02/2025

The Banking Marathon - Opening Corporate Accounts in Israel

Ever tried opening a bank account for a foreign LLC in Israel? If you have, you're probably nodding (or shaking your head) right now. If you haven't... well, let me tell you about this "adventure"! 🏦

In my practice, I've helped companies from the US, UK, Netherlands, Mexico, and more open Israeli bank accounts. Each case is unique, but they all share one thing: it's never as simple as you'd expect.

Here's what you're up against:

- Enhanced due diligence processes that can take months
- Requirements that seem to multiply like rabbits
- Different standards at different banks
- Sometimes conflicting demands from various departments

Pro tip: Want to save time?

Start gathering these documents NOW:
- Corporate formation documents
- Tax registrations
- Proof of business activity
- Ultimate beneficial owner documentation
- Source of funds verification

18/02/2025

The Israel Land Authority Challenge - A Unique Israeli Twist

Did you know that a large portion of land in Israel is owned by the Israel Land Authority (ILA)? This creates some fascinating challenges for foreign investors, especially when buying through corporations. Let me share some insights from my practice! 🏗️

When an individual buys property on ILA land, they need to prove their Jewish heritage or eligibility for immigration under the Law of Return. It's usually straightforward - we submit affidavits, and we're good to go.

But here's where it gets interesting: When a foreign corporation wants to buy property on ILA land, things get... complicated. 🤔

The ILA wants to maintain oversight of who ultimately controls these

properties. This means:
- Multiple layers of documentation
- Complex ownership verification processes
- Additional approvals not required for individual buyers

I recently had a client from New York who couldn't understand why their usual LLC purchase structure was causing such headaches. "It's just paperwork," they said. Oh, if only! 😅

Here's what we've learned works best:

- Start the ILA approval process early - very early
- Prepare comprehensive ownership documentation
- Sometimes, consider creating hybrid structures that satisfy both ILA requirements and the buyer's needs

04/02/2025

The American Wave - When Corporate Ownership Makes Sense in Israeli Real Estate

Following up on my last post about individual property ownership in Israel, I'm seeing an fascinating trend in my practice - more and more US clients are bringing their LLC preference to the Israeli market. And you know what? Sometimes it makes perfect sense! 🏢

Here's the deep dive into why some international buyers, especially from the US, are choosing to purchase through corporate entities:

The Tax Angle: One of the biggest drivers is tax efficiency. US investors often have existing LLC structures with specific tax positions in the US. By purchasing Israeli property through these entities, they can potentially utilize existing tax losses and maintain a more streamlined international tax structure. It's like fitting a new piece into an existing puzzle rather than starting a whole new one.

The Financing Factor: Here's where it gets really interesting. Israeli banking regulations limit foreign individual buyers to mortgages of no more than 50% of the property value. However, when purchasing through a corporation, the loan is classified as a commercial loan. While this means higher interest rates, it can sometimes open up different financing possibilities. For some of my clients, this flexibility is worth the premium.

Trust Structures: Another fascinating angle I'm seeing more frequently involves trusts. While trusts are rarely recognized in Israeli law, we've found creative solutions by having trusts establish foreign corporations to purchase properties.

It's like building a bridge between two very different legal systems!

But - and this is a big but - corporate ownership in Israel comes with its own set of challenges:

* Regulatory Requirements: You'll need apostille documents and expert legal opinions

* Banking Complexities: Opening an Israeli bank account for a foreign LLC can take months

* Future Sale Considerations: Many Israeli lawyers aren't familiar with foreign corporate structures

28/01/2025

The Personal Touch - Why Israelis Buy Property Differently Than Americans

One of the most fascinating cultural differences I've noticed in my international real estate practice is how differently Israelis and Americans approach property ownership. 🏠

In the US, it's almost automatic - want to buy property? Form an LLC! But here in Israel, there's a completely different mindset, and it's not just about tradition - it's about some significant financial benefits.

Let me break down why most Israeli property purchases are done under personal names:

First, there's the tax advantage. Individual buyers, especially first-time homeowners or new immigrants, enjoy substantial purchase tax reductions. These benefits can save tens of thousands of shekels - but they're typically only available when buying as an individual, not through a company.

Then there's the mortgage factor. Israeli banks offer much more favorable interest rates for residential mortgages to individual buyers compared to commercial entities. The difference can be significant - sometimes several percentage points! When you're talking about a long-term mortgage, that adds up to some serious money.

But wait, there's more! If you're planning to rent out your property, individual owners often enjoy special tax benefits on rental income. Some can even qualify for complete tax exemptions up to a certain amount when renting residential properties.

It's fascinating to see how these regulatory and financial incentives have shaped the entire real estate market culture in Israel. While my American clients often initially raise eyebrows at this approach, the numbers usually speak for themselves.

21/01/2025

A Game-Changing Shift in Property Tax Regulations! 🏠

I want to share with you a refreshing change that's happening right now in real estate taxation.

Over the years, I've encountered countless frustrated clients who invested hundreds of thousands of shekels in property renovations, only to discover during sale that they couldn't locate all their receipts. The result? Inflated tax charges on profits that, in many cases, weren't even real.

But here's the good news!

The Tax Authority is finally acknowledging reality - not everyone kept receipts from a decade ago. The new guidelines allow recognition of renovation and construction expenses even without receipts, especially for work done before 2014.

Let me share a real case study:
My client purchased an apartment in 2010 for 1.5M NIS, invested 500K NIS in renovations in 2013, and today the property is worth 3.5M NIS. Previously, without receipts, they could have paid tens of thousands in unnecessary capital gains tax. Today? We can get these expenses recognized.

When is this particularly relevant?
- If you renovated before 2014
- If you're planning to sell property soon
- If you're missing some of your receipts

From my experience, the difference between proper tax planning and missing this opportunity can amount to hundreds of thousands of shekels.

I'm here to help - if you want to understand how this change affects your specific case, feel free to reach out.

Let's optimize your property tax strategy together.

14/01/2025

"Sometimes the smallest details make the biggest difference" - A Real Estate Story from Jerusalem

I want to share a heartwarming story that reminded me why I love what I do.

A lovely couple from Monsey reached out to us about buying their dream apartment in Jerusalem's Mekor Chaim neighborhood. Like many of our clients, they were planning ahead for their future in Israel, and one of their non-negotiables was having a proper space for their Sukkah.

Everything seemed perfect until we discovered a potential issue - fire regulations required building an overhead balcony that would have made their Sukkah space unusable. You can imagine their distress when they heard this news.

But here's where it gets good...

After some creative thinking and intense negotiations, we not only convinced the developer to use special materials that kept the Sukkah space kosher, but we went a step further. We modified the building's bylaws to ensure this solution would stay protected for years to come, giving our clients peace of mind about their future home.

What touched me most was their reaction - the wife told me with tears in her eyes that this wasn't just about a balcony, it was about their family's future traditions in the Holy Land.

This is why I love helping American families make their Israeli dreams come true. Each case is unique, each family has their own needs, and finding solutions that respect both legal requirements and religious traditions is what makes our work meaningful.

Planning your own move or investment in Israel? Let's talk. We're here to help you navigate every detail - big and small - of your
journey home.

07/01/2025

Success isn't just about the numbers - it's about being there for our clients when they need us most.

I wanted to share something I'm genuinely proud of. Over the past few weeks, our team has been working around the clock to help our clients prepare for the January VAT increase. We didn't just sit back and wait - we reached out personally to each client months ago to discuss their options.

Some nights, I found myself on late calls with our international clients, while our dedicated team came in early to expedite contract signings. Was it challenging? Yes. Did we sacrifice some personal time? Absolutely. But seeing our clients save millions of shekels made every extra hour worth it.

This isn't just about business for me. When a client trusts us with their legal matters, they become part of our extended family. Their success is our success, their challenges are our challenges.

I'm sharing this not to boast, but to express my gratitude to our amazing team and our trusting clients who make our work meaningful every single day.

Meet our team caught in a moment of pure joy (or maybe delirium?) after pulling those extra-long hours ;-)

31/12/2024

When one busy day spans from contract signings to court hearings...

Last week, I watched with pride as our dedicated attorney, Yehuda Segal, exemplified the values that make our firm special. In a single packed day, he moved seamlessly from signing contracts for a promising real estate project with our returning US clients to representing our Mexican client in a complex land partition case in Petah Tikva.

While the opposing party has cycled through three different law firms, our team has remained unwavering in their commitment to protect our client's interests. This persistence and dedication are exactly what sets our firm apart.

, Nothing makes me prouder than seeing our team deliver on our core values - client commitment, clarity, professionalism, and positive results. This is especially crucial in our work helping US and international investors navigate the Israeli real estate market.

Here's to our amazing team and the clients who trust us with their Israeli real estate investments!

Address

21 Shamgar Street
Jerusalem
9446124

Opening Hours

Monday	09:00 - 17:00
Tuesday	09:00 - 17:00
Wednesday	09:00 - 17:00
Thursday	09:00 - 17:00
Sunday	09:00 - 17:00

Website

http://ys-law.co.il/

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